Contactless Payment Marches On
After initial skepticism, contactless payments via NFC technology have become widely accepted in Austria. As of the end of April 2016, customers of Erste Bank und Sparkassen alone have performed 7,7 m. contactless transactions totaling EUR 164 m. “This means that our customers already perform every 4thATM payment transaction via NFC ”, says Thomas Schaufler, chief retail officer of Erste Bank. In Austria’s overall market, every 5th payment transaction is performed contactless. “In particular the number of transactions involving small amounts of less than 25 euro has tripled since January 2015”, Schaufler points out. All 2.1 million ATM cards issued by Erste Bank und Sparkassen are already NFC-capable. The technology is safe and is already in use in 65 countries worldwide.